Reported 2 months ago
Minnesota Governor Tim Walz has been identified as the candidate with the lowest net worth, disclosing it to be under $1 million after becoming Kamala Harris' running mate on the Democratic ticket. In stark contrast, Republican nominee Donald Trump is valued at $5.7 billion, while Harris and her running mate JD Vance have disclosed net worth figures ranging from $550,000 to $10.7 million. Walz, a former congressman, has consistently maintained minimal investments, with recent disclosures showing no stock holdings and a modest combination of assets including a home sale from 2019.
Source: YAHOO
Reported 2 months ago
Following a recent presentation, KeyBanc analyst John Vinh revised Micron Technology's price target down to $145 from $165, while maintaining an overweight rating. The changes come amidst fluctuating demand, particularly in China, despite Micron's announcement of resumed stock repurchases due to improved market conditions. CEO Sanjay Mehrotra and CFO Mark Murphy highlighted strong AI-driven demand but cautioned about weakness in consumer markets, affecting pricing and shipment expectations.
Source: YAHOO
Reported 2 months ago
Source: WSJ
Reported 2 months ago
Sam Dogen, who retired at 34, briefly returned to work at 46 but left after just four months due to micromanagement and stress at a startup. Despite initially seeking extra income, he found the corporate environment draining and decided to focus on his family, side hustles, and writing a new book instead of continuing in the workforce.
Source: YAHOO
Reported 2 months ago
As Disney's third quarter earnings reveal rising prices at their theme parks, expert commentary suggests that while costs may be increasing, travelers can still find ways to save on their vacations by considering timing and travel arrangements. Carissa Baker from the University of Central Florida highlights that although lower and middle-income consumers feel economic pressure, higher-income visitors are increasingly opting for international parks.
Source: YAHOO
Reported 2 months ago
The Walt Disney Company and Super Micro Computer both experienced disappointing earnings reports, with Super Micro's stock falling sharply after missing revenue and earnings forecasts. Disney reported its first profit in its streaming business but faced challenges from underwhelming theme park revenues. Warner Bros. Discovery is expected to announce its second quarter results soon.
Source: YAHOO
Reported 2 months ago
College students and recent graduates searching for credit cards that suit their limited credit history can find useful guidance from Yahoo Finance. Senior Writer Kendall Little explains how to choose the best credit cards for essential purchases and emergencies, offering insights to help students navigate their options.
Source: YAHOO
Reported 2 months ago
With college tuition increasing by nearly 180% over the past two decades, experts emphasize the importance of early planning for families. Kalman Chany, President of Campus Consultants, recommends starting financial preparations as early as ninth grade to enhance eligibility for merit-based and need-based financial aid. For effective savings and cost reduction strategies, families should focus on planning and monitoring their incomes starting from tenth grade.
Source: YAHOO
Reported 2 months ago
Nvidia's stock plummeted over 5%, leading a decline in chip stocks, even as Piper Sandler analysts highlighted a 'tremendous opportunity' for investors following recent sell-offs. Despite concerns over potential delays in its next-generation chips, Nvidia remains a strong contender in the AI accelerator market, with analysts maintaining an Overweight rating and a $140 price target while suggesting that Advanced Micro Devices (AMD) also presents a solid investment opportunity.
Source: YAHOO
Reported 2 months ago
The number of Americans utilizing home equity lines of credit (HELOC) has increased by about 20% since late 2021, largely for home improvements, which are seen as wise investments. Bankrate Analyst Jeff Ostrowski highlights that while home enhancements are a responsible use, spending on vacations or shopping sprees is discouraged. He advises homeowners to align the duration of their loans with the lifespan of their investments.
Source: YAHOO
Reported 2 months ago
Warner Bros. Discovery reported disappointing second quarter earnings, missing revenue expectations and incurring a substantial $9.1 billion impairment charge relating to its TV networks. Despite gaining nearly 4 million subscribers for its streaming service Max and an increase in streaming ad revenue, the company struggled with a decline in linear TV advertising and lost a key media rights deal with the NBA to competitors, raising concerns over its future profitability.
Source: YAHOO
Reported 2 months ago
The Walt Disney Company's CFO, Hugh Johnston, announced significant improvements in their streaming business, which has recently turned profitable for the first time. With a focus on enhancing product quality and a successful advertising model, Johnston noted reduced subscriber churn and increased engagement. He emphasized that the introduction of high-quality original content is attracting more subscribers and hinted at future price adjustments to maintain value.
Source: YAHOO
Reported 2 months ago
Following a significant global sell-off that affected U.S. stocks, portfolio manager John Belton describes the market outlook as 'relatively healthy.' He notes that while the market had been priced for perfection, recent economic adjustments, such as a cooling labor market and shifts in the currency trade, led to a necessary correction. Belton emphasizes the ongoing reliance on economic data and raises concerns about whether company earnings estimates will meet expectations.
Source: YAHOO
Reported 2 months ago
Molson Coors CEO Gavin Hattersley noted that US beer drinkers are increasingly focused on value as overall beverage demand weakens. Consumers are opting for different pack sizes and purchasing less alcohol, as price increases exacerbate recession fears. While Molson Coors experienced a drop in US volume by nearly 8% this past quarter, they maintain notable market share gains from previous periods, however, upcoming summer performance will be crucial for the industry.
Source: YAHOO
Reported 2 months ago
As demand for beers softens amid economic uncertainty, Molson Coors CEO Gavin Hattersley notes that US consumers are increasingly considering value, opting for different pack sizes to manage costs. The company's US volume saw a drop of 7.8% following a significant price increase, although they plan to normalize pricing. Competitors are also experiencing similar trends, suggesting a broader consumer shift towards budget-friendly options in the beverage market.
Source: YAHOO
Reported 2 months ago
With Apple's upcoming iPhone release in September, experts advise consumers to consider holding off on purchasing until then. Yahoo Finance's Tech Editor Dan Howley discusses the potential benefits of waiting for the next generation of iPhones, encouraging buyers to be cautious before making a commitment.
Source: YAHOO
Reported 2 months ago
The Consumer Financial Protection Bureau (CFPB) is investigating major U.S. banks, including JPMorgan, Bank of America, and Wells Fargo, regarding their management of customer funds on the Zelle payment platform amidst concerns over increasing scams and fraud. The investigation follows rising scrutiny from lawmakers like Senator Elizabeth Warren, as banks argue that reimbursing scam victims could lead to more fraud. Zelle, which is owned by several major banks, claims to have taken proactive measures to prevent fraud.
Source: YAHOO
Reported 2 months ago
Mortgage rates are expected to continue declining ahead of the Federal Reserve's planned interest rate cuts. Following a drop in bond yields, the average rate for a 30-year fixed mortgage fell to its lowest since February, with current rates at around 6.73%. Analysts believe that as market participants anticipate a possible half-point cut in September, mortgage rates could trend down further, despite existing affordability challenges in the housing market.
Source: YAHOO
Reported 2 months ago
Rivian's stock has dropped following the announcement of a $1.4 billion net loss for the second quarter, despite higher vehicle sales. The company, which is collaborating with Volkswagen to enhance its vehicle technology, is aiming for cost-cutting strategies and anticipates positive gross profits in the fourth quarter. Rivian CEO RJ Scaringe mentioned that the partnership could also lead to better pricing with suppliers.
Source: YAHOO
Reported 2 months ago
Disney may incur an additional $5 billion expense in acquiring Comcast's stake in Hulu, as their CEO Bob Iger emphasizes the necessity for general entertainment beyond sports. This strategic move is intended to enhance Disney's streaming offerings, which include Hulu and Disney+. While the deal is expected to close by January, analysts believe it may not significantly impact Disney's stock performance, even amid an overall positive earnings report for the company during the fiscal third quarter.
Source: YAHOO
Reported 2 months ago
Fundstrat's Tom Lee suggests that the worst is behind investors as the CBOE Volatility Index (VIX) has sharply declined from a historic peak, implying that the recent market turmoil was a temporary 'growth scare.' Following a record surge in the VIX due to the unwind of the yen carry trade, its swift drop signals stability, with historical trends indicating a likely resurgence in stock prices. Lee emphasizes that the normalization of the VIX indicates a recovery phase for the market.
Source: YAHOO
Reported 2 months ago
A recent report by VettaFi reveals that July saw a record influx of $126 billion into ETFs, marking their second-best month. VettaFi's Todd Rosenbluth discusses how investors are gravitating towards riskier assets, while recent market volatility has led some to favor lower-risk equity exposure. Despite these fluctuations, Rosenbluth emphasizes the positive trajectory of ETF adoption, highlighting their dual benefit of diversified growth opportunities and defensive strategies for exposure to large-cap stocks.
Source: YAHOO
Reported 2 months ago
US stocks showed significant gains in early trading on Wednesday, with the S&P 500 rising nearly 1.6% and the Nasdaq Composite up over 1.8%. This rebound comes after a substantial three-day selloff, with key sectors like energy leading the rally. Investors remain cautious, focusing on upcoming economic indicators and earnings reports, including a disappointing forecast from Airbnb, while Disney reported its streaming division turned a profit despite a lackluster parks performance.
Source: YAHOO
Reported 2 months ago
The summer Olympics have significantly benefited Nike, boosting demand for its products as website visits surged, particularly during the event's opening week. While Nike and Puma's sites gained traffic, competitors like Adidas saw declines. Notably, 86,900 of the 2 million visits to Nike.com resulted in sales. With high-profile athlete sponsorships and a commitment to reinvest nearly $1 billion in marketing, Nike aims to leverage Olympic success to enhance its market position against rivals.
Source: YAHOO
Reported 2 months ago
Arko (ARKO) exceeded revenue expectations in Q2 with $2.39 billion but faced significant consumer challenges as transaction volumes declined. CEO Arie Kotler highlighted the company's need to implement value promotions to support struggling consumers, recognizing that many are feeling financial strain in the current retail environment.
Source: YAHOO